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TFC Commodity Trading Forum

Aussie $ / Patterns Within Patterns *PIC*

Here is an example of chart patterns within chart patterns. The Aussie $ from July through Jan has had lower highs but higher lows creating a large Symmetrical Triangle marked in Blue. And in Nov through Jan it also formed a "W" pattern in black which is bullish on a breakout above the top of the pattern. And from Oct through Jan price also formed a bullish Ascending Triangle also in blue with the same breakout pt as the "W" pattern. Price did breakout as the bullish patterns suggested and ran up to just over the Sept high. Price is now coming back to the breakout pt for a "test" of that new support. There are other patterns there as well but these are the major ones.